Shri Krishna Builders - Section 50C
Facts
Stamp duty value of immovable property significantly exceeded actual sale price.
Issue
Section 50C reference to Valuation Officer.
Held
Where the assessee disputes the stamp duty value, AO must refer to the DVO under Section 50C(2). Failure is procedural error vitiating the addition.
Ratio
50C is not a deeming free-for-all - taxpayer's right to objection is statutory.
Use via API
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